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BOND AGREEMENT.GOT NEW OFFER FROM OTHER COMPANY
12-Oct-2023 (In Labour & Service Law)
I have joined a company with 2 years service agreement (bond) and they have taken signed cheques.They told me that they will increment the salary after one year.But after one year when I go and ask for increment,they refused saying like company is in loss.In two months bond period will be over.Still they haven't raised my salary.But i got better opportunity from other company.I have to join within 1 month.When i talk with present HR about my offer, he wants me to pay money.Should i pay OR can i take any legal Action? Kindly help me.
Hi
Since your present employer had not kept up their promise of increasing salary after completion of one year, you can always submit your resignation stating that your employer did not keep up their commitment of increasing salary and hence you are resigning.
Since the company has not kept up their commitments, the service agreement will be invalid and the signed cheques will also not be binding.
And also in your resignation letter, you should clearly mention the cheque details, number etc and tell the company not to present the cheque as the same was issued as security (bond) and take an acknowledgment from the HR.
if HR is asking for 1 month pay in lieu of notice, you can choose to pay if the amount is small or else move on.
Since your present employer had not kept up their promise of increasing salary after completion of one year, you can always submit your resignation stating that your employer did not keep up their commitment of increasing salary and hence you are resigning.
Since the company has not kept up their commitments, the service agreement will be invalid and the signed cheques will also not be binding.
And also in your resignation letter, you should clearly mention the cheque details, number etc and tell the company not to present the cheque as the same was issued as security (bond) and take an acknowledgment from the HR.
if HR is asking for 1 month pay in lieu of notice, you can choose to pay if the amount is small or else move on.
Helpful?
14+
14+
Adv. Rajagopalan
Hyderabad | 500+ Answers
Chat
Hi
Since your present employer had not kept up their promise of increasing salary after completion of one year, you can always submit your resignation stating that your employer did not keep up their commitment of increasing salary and hence you are resigning.
Since the company has not kept up their commitments, the service agreement will be invalid and the signed cheques will also not be binding.
And also in your resignation letter, you should clearly mention the cheque details, number etc and tell the company not to present the cheque as the same was issued as security (bond) and take an acknowledgment from the HR.
if HR is asking for 1 month pay in lieu of notice, you can choose to pay if the amount is small or else move on.
Since your present employer had not kept up their promise of increasing salary after completion of one year, you can always submit your resignation stating that your employer did not keep up their commitment of increasing salary and hence you are resigning.
Since the company has not kept up their commitments, the service agreement will be invalid and the signed cheques will also not be binding.
And also in your resignation letter, you should clearly mention the cheque details, number etc and tell the company not to present the cheque as the same was issued as security (bond) and take an acknowledgment from the HR.
if HR is asking for 1 month pay in lieu of notice, you can choose to pay if the amount is small or else move on.
Helpful?
24+
24+
Adv. Rajagopalan
Hyderabad | 500+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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